Is Britain’s turbulent real estate market pre-empting an end in permitted development?
First introduced in 2013 and then extended in 2016, PD rights allow developers to carry out certain building works – typically converting a commercial building to residential use – without the need for planning permission.
The data in our new report and from the Office for National Statistics (ONS) has revealed that the boom in PD projects peaked in 2017, and has been on a downward trajectory ever since.
Between Q3 2017 and the same period in 2018, the number of PD schemes recorded across the UK plunged by more than a fifth (21.4%).
The findings come as political opinion polarises on PD rights. In March 19, the Housing Secretary James Brokenshire revealed that the Government intends to ease planning laws by extending the scope of PD rights. However in April 19 his Labour Shadow, John Healey, pledged that a Labour Government would end the PD exemption – forcing developers who want to convert commercial property into residential use to seek full planning permission.
Download your copy of the Naismiths Knowledge White Paper, ‘Has PD Peaked’, to explore our data analysis and what it means for the industry as we know it…